The Ministry of Commerce, Trade and Industry says a recent survey conducted on the cost of doing business in shopping malls in Zambia has revealed that most rentals are being quoted in US dollars.
Ministry of Commerce, Trade and Industry Permanent Secretary Kayula Siame says this is despite the country having a law in place forbidding quoting of products and services in foreign currencies.
Ms Siame says her Ministry is now working with the Bank of Zambia to ensure that there is compliance to the law that forbids quoting or transacting in foreign currencies in the country.
She has told ZNBC News in an interview that quoting in foreign currencies possesses a challenge on the Zambian market as people cannot make meaningful projections regarding their sales and profits.
Mrs. Kayula said her ministry is committed to ensuring that the Bank of Zambia through its banking and financial Act ensures that there is compliance to the law.